Counseling PE Clients Hungry For US Cannabis Investment

By Benjamin Horney (November 19, 2019, 4:45 PM EST) -- Although private equity investment in U.S. cannabis companies is down this year as fund managers grapple with federal opposition to legalization and banks remain wary of getting involved, attorneys must be ready to advise on pot-related deals because the drought is destined to end.

The drug still is federally outlawed, but states have been legalizing marijuana, in one way or another, at a rapid pace. Today 33 U.S. states, plus the District of Columbia, Guam, Puerto Rico and the Virgin Islands, have at least a medical marijuana program of some kind, and 11 states and D.C. have legalized marijuana for adult...

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